AIS 320 Final
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AIS 320 Glaziers review test AIS 320 Delivering Dynamic Insuran... Chapte
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Practice questions for this set
Learn 1 /7 Study using Learn
• Performed by IT function
• Continues tasks created by initial follow-up study
Choose an answer
1 Maintenance of an AIS 2 Objectives of the Production Process
What are the three cost categories tracked
3 4 Components of a ledger
in a job costing system?
Don't know?
Objectives of the Production Process • Converting raw materials to finished goods efficiently
• Collecting and reporting of information
Objectives of the Sales Process • Tracking sales of goods and/or services to customers
• Filling customer orders
• Maintaining customer records
• Billing customers for goods and services
• Collecting payment for goods and services
• Forecasting sales and cash receipts
, Objectives of the Financing Process • Effective cash management
• Lockbox systems and electronic funds transfer
• Cost of capital optimization
• Earn maximum return on investments
• Project cash flows
Objectives of the Purchase Process • Tracking purchases of goods and/or services from vendors
• Tracking amounts owed
• Maintaining vendor records
• Controlling inventory
• Making timely and accurate vendor payments
• Forecasting purchases and cash outflows
Components of a ledger general ledger, chart of accounts
General Ledger A ledger that contains all asset, liability, stockholders' equity, revenue, and
expense accounts.
All journal entries are posted from the journals to the... general ledger
True or False True
The general ledger has separate ledger accounts for
assets, liabilities, owners' equity, revenues, and expenses
of the firm
Chart of Accounts Listing of all ledger accounts used by the company
A chart of accounts provides __________ structure for the organizational, general
_______ ledger
True of False True
Chart of accounts utilizes block coding structure
Job Costing Information System Tracks costs for specific "jobs"
What are the three cost categories tracked in a job Raw materials, labor and overhead
costing system?
Process Costing Information System Used for manufacturers of homogeneous products
True or False False
Process costing information systems are used on a Process costing information systems are used on a regular and continuous basis
periodic basis
Information overload A condition in which information inflow exceeds an individual's processing
capacity
Business Process Collection of related business activities (or events) and work flows
Business process creates _____ for an organization. value
Save
Students also studied
AIS 320 Glaziers review test AIS 320 Delivering Dynamic Insuran... Chapte
42 terms 124 terms 53 terms 77 terms
dfaust22 Preview Steph3797 Preview kellkell1616 Preview noa
Practice questions for this set
Learn 1 /7 Study using Learn
• Performed by IT function
• Continues tasks created by initial follow-up study
Choose an answer
1 Maintenance of an AIS 2 Objectives of the Production Process
What are the three cost categories tracked
3 4 Components of a ledger
in a job costing system?
Don't know?
Objectives of the Production Process • Converting raw materials to finished goods efficiently
• Collecting and reporting of information
Objectives of the Sales Process • Tracking sales of goods and/or services to customers
• Filling customer orders
• Maintaining customer records
• Billing customers for goods and services
• Collecting payment for goods and services
• Forecasting sales and cash receipts
, Objectives of the Financing Process • Effective cash management
• Lockbox systems and electronic funds transfer
• Cost of capital optimization
• Earn maximum return on investments
• Project cash flows
Objectives of the Purchase Process • Tracking purchases of goods and/or services from vendors
• Tracking amounts owed
• Maintaining vendor records
• Controlling inventory
• Making timely and accurate vendor payments
• Forecasting purchases and cash outflows
Components of a ledger general ledger, chart of accounts
General Ledger A ledger that contains all asset, liability, stockholders' equity, revenue, and
expense accounts.
All journal entries are posted from the journals to the... general ledger
True or False True
The general ledger has separate ledger accounts for
assets, liabilities, owners' equity, revenues, and expenses
of the firm
Chart of Accounts Listing of all ledger accounts used by the company
A chart of accounts provides __________ structure for the organizational, general
_______ ledger
True of False True
Chart of accounts utilizes block coding structure
Job Costing Information System Tracks costs for specific "jobs"
What are the three cost categories tracked in a job Raw materials, labor and overhead
costing system?
Process Costing Information System Used for manufacturers of homogeneous products
True or False False
Process costing information systems are used on a Process costing information systems are used on a regular and continuous basis
periodic basis
Information overload A condition in which information inflow exceeds an individual's processing
capacity
Business Process Collection of related business activities (or events) and work flows
Business process creates _____ for an organization. value
